USD/JPY profit target reached, buy on bullish breakout
September 29, 2016 11:48 am
USD/JPY has bounced to our profit target as expected. We now remain bullish with the break of the major resistance at 101.25 (horizontal resistance, Fibonacci retracement) with a double bottom reversal confirming the push up to 102.10.
RSI (34) has made a bullish exit triggering a bullish move from here.
Buy above 101.25. Place stop loss at 100.80, and take profit at 102.10.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/JPY has bounced to our profit target as expected. We now remain bullish with the break of the major resistance at 101.25 (horizontal resistance, Fibonacci retracement) with a double bottom reversal confirming the push up to 102.10.
RSI (34) has made a bullish exit triggering a bullish move from here.
Buy above 101.25. Place stop loss at 100.80, and take profit at 102.10.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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